Notes Payable

9 Months Ended

Dec. 31, 2018

Notes to Financial Statements

Notes Payable

The following table summarizes our unsecured promissory notes at December 31, 2018 and March 31, 2018:

	December 31, 2018						March 31, 2018
	Principal		Accrued				Principal		Accrued
	Balance		Interest		Total		Balance		Interest		Total
6.50% (2018) Notes payable
to insurance premium financing company (current)	$	49,100	$	—	$	49,100	$	53,900	$	—	$	53,900

In May 2018, we executed a 6.50% promissory note in the principal amount of $160,500 in connection with certain insurance policy premiums. The note is payable in monthly installments of $16,500, including principal and interest, through March 2019, and had an outstanding principal balance of $49,100 at December 31, 2018. In February 2018, we executed a 7.15% promissory note in the principal amount of $59,700 in connection with other insurance policy premiums. That note was payable in monthly installments of $6,200, including principal and interest, through December 2018, and had been fully paid at December 31, 2018.